jetdriver2 January 30, 2015 Copied From Twitter
JC @JCR3758 Guys I would love to tell you exactly when the official RV with live rates will take place but I can't since I run out of characters to explain.
JC @JCR3758 All kidding aside, we are extremely close. Maintain your calm and professionalism.
R.V. / GCR January 30, 2015 at 6:04pm Monday i was told bonds move
AJM0603 > R.V. / GCR True as long as we RV this weekend...but I heard Wednesday as they still must unblock funds.
Ron Burgundy > R.V. / GCR I heard the codes for redemption were released yesterday afternoon EST.
Janie > Ron Burgundy IF the budget gets published tomorrow, then Iraq has no choice. Because everyone will be wanting the money they've just voted on in the budget. And once it's published, it (theoretically) must activate. I think Article 59 was a very powerful vote. Sounded to me like they were forcing the issue :)
R.V. / GCR > Ron Burgundy Lets keep going forward. The admin hold treasury side is still problematic, even to the discourse of the nation of Iraq becoming international without the full backing of the USA TREASURY. There are many countries that do not trust whats going on right now. I.e. MEXICO FOR EXAMPLE...That will not cash a vietnam dong or said zimbabwe note for any amount of money without the REPUBLIC and the Treaty of basel 3 even on Monday. The problem may be the mirror budget between the Reserve currency and the backing of the secret reserve currency the DINAR
Carden > R.V. / GCR Well, I will add to this comment. IMO Mexico will not cash any VND/IQD/RUP/ZIM without the UST guaranteeing the exchange which they have NOT done. During their recent coordinated currency exchange (this past Christmas) with a few well known currency holders they looked to China to provide the guarantee which they had been previously given and I understand they didn't hear back. Mexico central bank doesn't want to be stuck holding worthless Monopoly money from any country. Doesn't have anything to do with "REPUBLIC" or "BASEL 3". It's just simple good business practices.
I do agree the problem may be the mirror budget... that's a good call. The "secret reserve currency, the DINAR" tho, ain't so secret.Thanks, R.V.
Ron Burgundy > Carden Well hopefully the process has indeed started in earnest. I cannot imagine them being able to hold this back much longer!God Bless!
Janie > R.V. / GCR thank you for this clarification. this makes a great deal of sense. Problematic indeed - it's a problem that's been 100 years in the making, this lack of distrust. Any of us who've been following this trail for awhile also have that lack of distrust. Even after the eventual exchange, that distrust will still be lurking behind the closet door.
KThompson What is this mirror budget people are talking about.
Carden > KThompson Seems that throughout this escapade there have been remarkable coincidences between USA and Iraq that show this mirror effect over and over. Now if we learn of BIG CHANGES in USA budget that don't make sense to the average person we here will know what the reason is. Diminishing deficit/debt, for instance. The clues are obvious. The verbiage however, will not be so clearly stated nor explained, as in we now have asset-backed currency, pegged to the IQD, with debt paid thanks to the exchange of the IQD/USD purchased during Bush years and to pay for the Iraq war.
Janie > Carden And perhaps that's why Obama put all those domestic funding statements into his new proposed budget? Because now he can afford to fund them? - I thought about that the other day when he announced the proposed 2015 budget :)
Topic: If you cannot do great things, do small things in a great way. Napoleon Hill
AstorJack: I honestly don't think the value of the dong will be .08 cents, remember that is what the PTB said to tell Tony and DC, so far Tony nor DC was able to confirm that, I personally believe the reason for that rate is to slow the process of exchange down and also so that people wouldn't go and purchase more.
Adept1: DC from Friday TNT CC: DC: Not a lot has changed – everything looks really good. Positive stuff has gone through in Iraq with support in the US. In Iraq they passed the budget and made it public. It has been published in many places, and the official date in the Gazette is tomorrow. It’s a pretty dry read but has some good stuff for those looking for investment information, like for roads and infrastructure. The pressure is very high on Abadi and his team to get this revalued.
Most feel the RV is very shortly behind, and they are jumping up and down in frustration. Many including the US are insisting this RV gets done quickly especially because of social issues and ISIL. There is more on Iraqi television about the economic reforms. It’s a holiday there, and in the mosques they said to pay attention to the various news outlets.
About Dr. Shabibi and the rate, it seems to be higher than the rate on the cards. Shabibi has always argued for a much higher rate, and he is very convincing. So he’s been working on has been raising the rate, while PM Abadi just wants to get this out and raise the rate later. Even with falling oil prices, Shabibi has successfully pushed for a higher rate.
In the US, all checks have been done and we are waiting on Iraq – banks, Homeland, UST, all the other law enforcement agencies are all waiting on Iraq. They are keeping the times close, with a wide window but ready to go. There are many leaks, and that is how we get our information!
So the times are held by just a few people, keeping people on super-high alert.
There is a running joke in Congress and the UST that this will go during the SuperBowl kick-off. Everyone is tired of the stops and starts it’s almost become a joking matter.
JJONESMX » January 30th, 2015, World Bank Questions Iraq Currency Peg
Posted on 30 January 2015 . Tags:
Central Bank of Iraq (CBI), dinar, Dinar Exchange Rate, IQD, iraqi dinar, oil prices, re-denomination, re-valuation, Redenomination, revaluation, World Bank
World Bank Questions Iraq Currency Peg By John Lee.
A report published on Thursday by the World Bank focuses on the implications of low oil prices for eight developing countries — Egypt, Tunisia, Lebanon, Jordan, Iran, Iraq, Yemen and Libya — and the economies of the GCC (Gulf Cooperation Council).
The Plunging Oil Prices report questions the practice of pegging the Iraqi dinar to the US dollar, noting the that value of the dinar has been falling against the dollar in the parallel market:
“Iraq pursues a policy of a de facto peg to the U.S. Dollar, and therefore monetary policy is constrained in tackling the current shock.
“The Central Bank of Iraq (CBI) had kept the Dinar steady through January 2009.
“In 2014, the nominal exchange rate in the official market remained stable against the U.S. Dollar at 1,166 IQD/1 USD, but the rate in the parallel market increased.
“The CBI has recently taken steps to simplify foreign exchange market regulations, but has not eliminated all existing exchange restrictions and the multiple currency practice.
“With the peg, fiscal policy carries the burden of macroeconomic stabilization, but in this case does not have the space to do so.“
jdtolle » January 30th, 2015, A matter of doing it
Whatever you must do is not particularly hard. It’s just a matter of doing it.
Sure, it has its challenges. And those challenges are what give value to the work you do.
Are you avoiding something because of how hard you think it will be? Stop and remind yourself how foolish that is.
You are capable of doing great work, of making a positive difference, and of transforming the challenges into achievements. Go ahead and get busy doing all that.
Worry and procrastination will just make the task more difficult when you eventually have no choice but to do it. So now, while you still have a choice, choose to get the work done.
You can in fact enjoy the effort, enjoy the challenges, and enjoy pushing forward. So take a deep breath, put a smile on your face, feel your power, and get the work done.
— Ralph Marston Wishing All a safe, warm and blessed day JDT